AUDUSD dips below swing area on hourly chart

Technical Analysis

Author: Greg Michalowski | audusd

The 0.7145-50 area 

The AUDUSD has dipped below a swing area on the hourly chart defined by lows and highs going back to Jan 7th. That area comes in at 0.7145-50. A move below is more bearish.  A lower trend line on the hourlcy chart comes in at 0.7125. That is the next target for the pair. Stay below the 0.7150 keeps the sellers more in control. 

The 0.7145-50 area 
PS. The high today was able to get above the 100 day MA at 0.71715 but fell short of the 100 hour MA (currently at 0.71778.  Staying below those MAs and the 200 hour MA at 0.7185 tilts the bias more to the downside too. 

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